Have you verified that the 45nm Wolfdale will be compatible with the motherboard/chipset you have? AFAIK not all Intel 945/965 chipsets (commonly shipped with the old dual core P4s) will support Wolfdale.
i5 will be a cheap alternative that should overclock well because of the new process and lack of hyper threading, but its pcie controller will only support 8x Xfire/SLI. This straight out of the mouth of an Intel rep who was relatively offended when I implied that this wasn't an intelligent decision. If you want performance for cheap get an x48 board and q9550. Then your can run SLI/ Xfire to your hearts content. And yes, going from a pentium D 820 @ 3.9GHz to a Core 2 Duo at 4 was a huge step up because of the entirely different architecture. Since then Ive gone to a Q6600 I traded for with one of the new Phenoms I won at quakecon which is currently at 3.35GHz and that was similarly a big step up in multitasking. ( My board wont allow me to put more than 1.4v through it as vcore adjustments are in 5% increments from the VID up to 15%, point being dont get a Biostar p43, ive got a new board coming soon as the Scythe Infinity Ive got keeps its 27c idle, 50c prime 95 )
All in all, go with what obsidian said. 775 prices are going to drop like a stone.
i5 will be a cheap alternative that should overclock well because of the new process and lack of hyper threading, but its pcie controller will only support 8x Xfire/SLI. This straight out of the mouth of an Intel rep who was relatively offended when I implied that this wasn't an intelligent decision. If you want performance for cheap get an x48 board and q9550. Then your can run SLI/ Xfire to your hearts content. And yes, going from a pentium D 820 @ 3.9GHz to a Core 2 Duo at 4 was a huge step up because of the entirely different architecture. Since then Ive gone to a Q6600 I traded for with one of the new Phenoms I won at quakecon which is currently at 3.35GHz and that was similarly a big step up in multitasking. ( My board wont allow me to put more than 1.4v through it as vcore adjustments are in 5% increments from the VID up to 15%, point being dont get a Biostar p43, ive got a new board coming soon as the Scythe Infinity Ive got keeps its 27c idle, 50c prime 95 )
All in all, go with what obsidian said. 775 prices are going to drop like a stone.
All I can say about Core i5 is it so far seems to OC very very nice.
And as for only doing 8x PCIe, its PCIe 2.0 and it has been shown in many tests that not even PCIe 1.1 x16 was bottlenecked so even doing XFire/SLI with only dual x8 will be fine and probably not show more than a fraction of a percent less performance. Well until the newer GPUs come out and start to use more power but still.